HMI Capital Management L.P. Reduces Stock Holdings in Roblox Co. (NYSE:RBLX)

HMI Capital Management L.P. trimmed its holdings in Roblox Co. (NYSE:RBLX) by 14.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,327,596 shares of the company’s stock after selling 705,100 shares during the quarter. Roblox comprises about 12.6% of HMI Capital Management L.P.’s investment portfolio, making the stock its 4th biggest holding. HMI Capital Management L.P. owned about 0.71% of Roblox worth $250,395,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Virtu Financial LLC purchased a new stake in shares of Roblox in the third quarter worth $2,341,000. World Investment Advisors LLC purchased a new stake in Roblox during the 3rd quarter valued at about $204,000. Wilmington Savings Fund Society FSB purchased a new position in Roblox in the third quarter worth about $533,000. Principal Financial Group Inc. lifted its stake in shares of Roblox by 308.2% in the third quarter. Principal Financial Group Inc. now owns 181,808 shares of the company’s stock worth $8,047,000 after buying an additional 137,267 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in shares of Roblox by 83.9% during the fourth quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock valued at $30,000 after acquiring an additional 239 shares in the last quarter. Institutional investors own 94.46% of the company’s stock.

Roblox Price Performance

Shares of Roblox stock opened at $65.69 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 4.82. Roblox Co. has a 52 week low of $29.55 and a 52 week high of $75.74. The stock’s 50-day simple moving average is $59.04 and its 200-day simple moving average is $57.25. The company has a market capitalization of $41.28 billion, a price-to-earnings ratio of -45.30 and a beta of 1.49.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.13. Roblox had a negative return on equity of 665.98% and a negative net margin of 25.97%. As a group, analysts expect that Roblox Co. will post -1.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the company. The Goldman Sachs Group increased their target price on Roblox from $55.00 to $63.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. CICC Research began coverage on shares of Roblox in a research report on Tuesday, January 14th. They set an “outperform” rating on the stock. Wedbush reaffirmed an “outperform” rating and issued a $83.00 target price on shares of Roblox in a research report on Thursday. Moffett Nathanson cut Roblox from a “neutral” rating to a “sell” rating and set a $34.00 price target on the stock. in a report on Friday, February 7th. Finally, FBN Securities assumed coverage on Roblox in a report on Friday, March 28th. They issued a “sector perform” rating and a $65.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Roblox presently has an average rating of “Moderate Buy” and an average price target of $64.50.

Insider Activity at Roblox

In related news, CAO Amy Marie Rawlings sold 4,468 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $61.34, for a total value of $274,067.12. Following the completion of the transaction, the chief accounting officer now directly owns 75,583 shares of the company’s stock, valued at approximately $4,636,261.22. This trade represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David Baszucki sold 138,555 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $71.62, for a total transaction of $9,923,309.10. Following the sale, the chief executive officer now directly owns 129,301 shares in the company, valued at approximately $9,260,537.62. The trade was a 51.73 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 902,954 shares of company stock valued at $55,354,971. Corporate insiders own 22.15% of the company’s stock.

Roblox Profile

Roblox Corporation develops and operates an online entertainment platform in the United States and internationally. It offers Roblox Studio, a free toolset that allows developers and creators to build, publish, and operate 3D experiences, and other content; Roblox Client, an application that allows users to explore 3D experience; and Roblox Cloud, which provides services and infrastructure that power the platform.